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4-Traders Homepage  >  Equities  >  Xetra  >  Allianz    ALV   DE0008404005

ALLIANZ (ALV)
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Allianz : Volume of uncovered insurance frauds down in CR in Q1-Q3

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11/24/2017 | 03:07pm CEST

The volume of detected insurance frauds totalled hundreds of millions of crowns in the first three quarters of this year and the amount declined annually, with the 2016's volume being record-breaking for some insurers, according to a CTK survey among the largest Czech insurers.

Prague saw the highest number of insurance fraud cases.

Ceska pojistovna uncovered insurance frauds worth Kc315m, which is Kc90m less year on year; however, the volume has been growing in the long term, company spokeswoman Ivana Buriankova told CTK.

Allianz dealt with 1,675 cases worth nearly Kc272m from January until October. The number of cases dropped significantly yr/yr, while the volume is similar to last year's.

Classic frauds where clients, both legal entities and individuals, increase damage are starting to appear more often, Michal Vlk of Allianz said.

Kooperativa detected almost Kc130m worth of frauds in 644 out of 950 assessed cases, head of security department Vojtech Stavny said. The figures declined annually from 674 frauds worth Kc148m.

Ceska podnikatelska pojistovna saw a fall in the number and value of frauds for the first time. It uncovered 315 frauds worth Kc21m in Q1-Q3 compared to last year's 540 cases worth Kc30m.

Generali reported 66 detected fraud cases worth Kc86m, while it was 39 frauds worth Kc32m a year ago.

Insurance fraud is a crime that hundreds of offenders a year are charged with in the Czech Republic, with the maximum sentence being ten years in prison.

© Pakistan Press International, source Asianet-Pakistan

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Financials (€)
Sales 2018 125 B
EBIT 2018 11 365 M
Net income 2018 7 566 M
Debt 2018 -
Yield 2018 4,82%
P/E ratio 2018 10,28
P/E ratio 2019 9,69
Capi. / Sales 2018 0,62x
Capi. / Sales 2019 0,60x
Capitalization 77 335 M
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Technical analysis trends ALLIANZ
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Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 213 €
Spread / Average Target 18%
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Managers
NameTitle
Oliver Bäte Chief Executive Officer
Michael Diekmann Chairman-Supervisory Board
Christof Mascher Chief Operating Officer
Giulio Terzariol Chief Financial Officer
Rolf Zimmermann Vice Chairman-Supervisory Board
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